There is little doubt that the U.S. Securities and Exchange Commission is making cybersecurity a top priority. SEC Chair Gary Gensler told a Senate committee on Tuesday, September 14, 2021 that the agency is developing a...more
9/16/2021
/ Broker-Dealer ,
Cyber Attacks ,
Cyber Incident Reporting ,
Cyber Threats ,
Cybersecurity ,
Data Breach ,
Data Breach Plans ,
Data Protection ,
Data Security ,
Enforcement Actions ,
Information Security ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Firms ,
Personally Identifiable Information ,
Phishing Scams ,
Policies and Procedures ,
Regulation S-P ,
Safeguards Rule ,
Sanctions ,
Securities and Exchange Commission (SEC)
On August 20, the People’s Republic of China became the latest global economic powerhouse to pass an omnibus privacy law. Titled the Personal Information Protection Law (“PIPL”), the law was adopted by the Standing Committee...more
9/3/2021
/ China ,
Consent ,
Data Privacy ,
Data Processing Rules ,
Enforcement ,
Extraterritoriality Rules ,
International Data Transfers ,
New Legislation ,
Personal Information ,
Personal Information Protection Law (PIPL) ,
Personally Identifiable Information ,
Privacy Laws ,
Sensitive Personal Information
On July 7, 2021, Colorado Governor Jared Polis signed the Colorado Privacy Act (“CPA”) into law. The CPA will take effect on July 1, 2023 and joins the California Consumer Privacy Act (“CCPA”), the California Privacy Rights...more
7/29/2021
/ Consent ,
Consumer Privacy Rights ,
Data Collection ,
Data Controller ,
Data Privacy ,
Data Processors ,
Data Protection ,
Data Subjects Rights ,
Enforcement ,
Notice Requirements ,
Opt-Outs ,
Penalties ,
Personal Data ,
Personally Identifiable Information ,
Sensitive Personal Information ,
State Privacy Laws
Millions of vaccinated Americans — now maskless — surely can’t wait to rekindle their love affair with their iPhone’s facial recognition technology. Meanwhile, these same people are probably less eager for the bars,...more
5/19/2021
/ Biometric Information ,
Consumer Privacy Rights ,
Cure Periods ,
Data Collection ,
Data Privacy ,
Data Sellers ,
Data Use Policies ,
Data-Sharing ,
Exceptions ,
Facial Recognition Technology ,
Fingerprints ,
Personally Identifiable Information ,
Privacy Laws ,
Remedies ,
Written Notice
In early March, the New York State Department of Financial Services (“NYDFS”) announced a consent order that required Maine-based mortgage servicer Residential Mortgage Services, Inc. (“Residential”) to pay a $1.5 million...more
3/23/2021
/ Banking Sector ,
Business E-Mail Compromise (BEC) ,
Consent Order ,
Covered Entities ,
Cyber Incident Reporting ,
Cybersecurity ,
Data Breach ,
Data Security ,
Failure to Report ,
Financial Institutions ,
Financial Services Industry ,
Mortgage Servicers ,
Non-Public Information ,
NYDFS ,
Personally Identifiable Information ,
Sensitive Personal Information
On March 2, 2021, Virginia enacted the Consumer Data Protection Act (“VCDPA”). The VCDPA will become effective January 1, 2023. The VCDPA shares its roots with the California Consumer Protection Act (“CCPA”) and the recently...more
3/9/2021
/ California Consumer Privacy Act (CCPA) ,
California Privacy Rights Act (CPRA) ,
Consumer Privacy Rights ,
Data Collection ,
Data Controller ,
Data Privacy ,
Data Processors ,
Data Protection ,
Data Protection Acts ,
Data Security ,
Data Sellers ,
Data-Sharing ,
Enforcement Actions ,
Personal Data ,
Personally Identifiable Information ,
Privacy Laws ,
Sensitive Personal Information
NEW YORK STATE LEGISLATURE PROPOSES BIOMETRIC PRIVACY ACT -
On January 6, 2021, the New York state legislature proposed the Biometric Privacy Act (AB 27) to regulate the collection of biometric information by companies...more